Puxin Reports Profit In Q3 - Quick Facts

(RTTNews) - Puxin Limited (NEW) reported that, during the third quarter, excluding financial impact from online school and headquarter, net revenues increased by 86.4 percent year-over-year and the operating profit increased by 667.1 percent. Student enrollments increased by 60.2 percent to 871,896 from 544,253, prior year.

For the third-quarter, adjusted net income per ADS attributable to Puxin was RMB 0.49 or $0.07, compared to an adjusted net loss of RMB 0.62, a year ago. Adjusted operating income was RMB 52.2 million or $7.3 million, compared to a loss of RMB 41.8 million.

Third-quarter net revenues increased by 48.7 percent to RMB 996.0 million or $139.4 million from RMB 669.7 million, last year. The increase was primarily driven by an increase in student enrollments.

For the fourth quarter, the company projects net revenues to be between RMB 770.6 million and RMB 797.2 million, which represents an increase of 45 percent to 50 percent year-over-year.